Even as “inflationary pressures” have moderated, there are persistent downside risks to growth and macroeconomic stability from inflation which continues to keep the government and the Reserve Bank of India (RBI) on “high alert”, Ministry of Finance said in its latest monthly economic review for October 2023.
The Ministry also said that a fuller transmission of the monetary policy, which essentially means pass-through of the central bank’s rate hikes to consumers by banks, may also temper domestic demand.
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